For an accurate picture of the real estate
market we must widen the lens several years. While home sales dropped
nationwide in 2018 a few percentage points from last year, the overall
picture shows steady growth. Considering 2017 was the highest in home sales
in a decade, it is not surprising that 2018 finished a few points lower.
Still, the 2018 real estate market finished above the spike of
2009. Statistically, it is a small flinch in the data and a very
mild adjustment compared to the long-term growth over the past years.

2018 brought tight inventory that created
an urgency in buyers to act quickly. This dynamic demanded that
agents be responsive, capable and knowledgeable in order to meet the
pace of transactions. I'm happy to report that here in our offices, 2018
brought a 10% increase in home sales volume over last year. Our continued
growth is attributed to our skilled agents who have the support of a
management and administrative team with extensive experience. Unmatched
market knowledge has resulted from our 45 years of business growth. Our
management team is heavily engaged in the real estate industry and local
commerce which creates opportunity and insight that benefits our entire
team.

Looking forward to 2019, I expect sales to
remain stable and exhibit mild growth nationally and locally. Home prices
should increase on pace with 2018 and interest rates should have a modest
uptick as well. Inventory will remain tight keeping buyers and agents on
their toes and prepared to bring strong offers. Overall, the economy
is good resulting from a stable job market. This will support the housing
market, even as interest rates rise. Lawrence Yun, NAR Cheif
Economist, predicts 2019 to bring a 1% increase in home sales and the
national median existing-home price to rise around 3% from 2018.

Barring any unforeseen events, I agree with
Yun when he refutes speculation that we are experiencing a bubble.
"The current market conditions are fundamentally different than what
we were experiencing before the recession 10 years ago," said Yun.
"Most states are reporting stable or strong market conditions,
housing starts are under-producing instead of over-producing and we are
seeing historically low foreclosure levels, indicating that people are
living within their means and not purchasing homes they cannot afford.
This is a stronger, more stable market compared to the loosely regulated
market leading up to the bust."

Closer to home, I anticipate 2019 to be
another year of growth at Beiler-Campbell Realtors. As our skilled agents
and support staff join with our management team, there is not a challenge
we can’t navigate. I look forward to 2019 with optimism and excitement!

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